Study: Personal Math Assessment Can Determine Financial Competencies
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Digital Vision(COLUMBUS, Ohio) — How good are you at math? Before you answer, research shows that a lot of folks don’t have a good read on their math skills, regardless of how they rate their ability to solve problems.
A study out of Ohio State University found that a third of people who believed they were pretty good at math actually finished in the lower half of a traditional test given by researchers.
Co-author Ellen Peters says that 20 percent who think their math skills are sub-par scored in the top half of the same exam.
However, Peters, a professor of psychology, says those who correctly assess their ability to do math well and like to work with numbers have a leg up on others when it comes to everyday tasks such as figuring out their taxes or their options when it comes to health insurance.
Those who have problems with math and numbers often file their taxes late or make ill-advised choices in other financial matters, according to Peters.
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